As major vendors consolidate, financial institutions should be looking to adopt emerging technologies, rather than relying solely on legacy firms to provide services.
Chime, a financial technology startup that offers online banking services, is close to raising $300 million at a $1.5 billion valuation, according to two people familiar with the matter.
Steve Boms, executive director of the Financial Data and Technology Association, says open banking standards are needed for U.S. banks and fintechs to follow.
Policymakers need to update banking regulations to minimize the risks posed by technology companies entering financial services, a well-known policy analyst says in a new paper.
The bureau’s updated no-action-letter policy and “product sandbox” proposal are important steps in helping the industry adapt during this period of rapid change.
As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.
Banks spend heavily on marketing to win deposits, push digital; Wells Fargo bends to critics in its latest response to scandals; FDIC review of brokered deposits has big implications for branches; and more from this week's most-read stories.
Gatsby, which has built an app to let novice investors buy puts or calls, has received funding from Barclays, Radius Bank and others. Radius is considering offering the service to its customers.
The deal between the U.S. bank and the U.K. software firm adds another potential payments rival for Swift, and the two companies will offer banking APIs to U.S. fintechs.
